Virtual Land Just Sold For 31,999 MANA

January 31, 2022 10:32 pm

Virtual land that is tokenized as NFTs just sold for almost 32,000 MANA in the metaverse Decentraland where users can trade goods and services in a virtual world.

The purchase involved over 97,000 plots of land and a total of around $71,000 allocated indicating a significant investment from users who believe in the future of the metaverse and the blockchains that run these virtual worlds.

Currently, Decentraland and Sandbox are the two largest metaverse blockchains that operate these virtual worlds and both of their prices skyrocketed after Facebook decided to rebrand its name to Meta.

The rebrand from Facebook brought awareness to the metaverse industry and were key contributors to the astonishing growth that crypto like MANA experienced last year.

Benzinga reports:

Land in Decentraland and The Sandbox skyrocketed after Facebook’s rebrand to meta, as more investors become aware of what the metaverse is.

Most of the time, virtual land sells at a premium due to the size of the lot and its proximity to the center of the metaverse.

Ethereum’s blockchain is home to open world metaverses, with the 2 largest being Decentraland MANA and The Sandbox SAND.

Brands like Adidas and Atari have bought virtual land in these blockchain-based metaverses, and some companies believe that much of retail will eventually happen within the metaverse.

The term metaverse is used to describe the evolution of human’s interaction with the internet. As we spend more and more of our time on the internet, the gap between the real world and our online identities declines.

Eventually, the metaverse is intended to be an immersive virtual world where people enjoy digital ownership and can interact with their peers.

Currently, the biggest blockchain focused on the metaverse is Decentraland and and its token MANA is currently ranked 31st with a total market cap of $4.2 billion.

Sandbox is also not far behind and is ranked 35 on CoinMarketCap with a total market cap that is worth 3.5 billion.

Recently, Decentraland price has seen a significant rebound this past week despite the overall bear pressure in the broader crypto industry.

As a matter of fact, it is recorded that MANA is up 25% this week alone while the majority of the crypto markets are just starting to recover and trade sideways.

This recovery can be attributed to many different reasons.

TheVRSoldier reports:

Decentraland is a 3D virtual Metaverse accessible via a browser built with the Unity game engine. It’s the leading 3D Metaverse in crypto built on the Ethereum blockchain and features its ERC-20 token MANA.

MANA is the native utility token to Decentraland enabling players to purchase various NFTs and access exclusive experiences.

The biggest news about Decentraland is the Australian Open Metaverse closing party today. Featuring world-class artists like Steve Aoki, there’s no doubt that the recent event contributed to MANA’s current bullish momentum.

Currently, there are over 1.8 billion MANA tokens in total and it is currently trade on all major crypto exchanges.

If the metaverse actually does continue to expand like Facebook thinks it will, it could create a bullish long-term outlook for MANA and SAND.

 

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